Technology is everywhere! Regardless of age, you can’t deny the impact technology has on society. The millennial or the digital native has grown up witnessing a rapid change in technology. They were there during the time of technological change, globalization, and economic disruption. By the year 2000, social media have gone mainstream, which allows millennials to express their satisfaction with companies online and make decisions based on the company’s customer engagement policy, and not just price alone. Their affinity towards technology has shaped the way they shop, which in turn has transformed the marketing strategy of businesses.
Having an online presence becomes imperative in running a business. Without a digital footprint, it is almost as if the business is non-existing.
Content marketing, SEO, social media, email marketing, video marketing, and the latest trend of conversational marketing — these are some of the marketing avenues that businesses need to implement into the core of their marketing strategy. A brand that establishes a seamless omnichannel presence strikes the right chord with the millennial consumer. Marketers can improve customer experience significantly by providing seamless, customized customer engagement across various marketing channels. A customer experience survey conducted by Gartner in 2017 revealed that 81% of the marketing leaders say that their companies will entirely or mostly compete on customer experience. For businesses to remain relevant, they need to establish a seamless connection with the customer, reach out to the target audience, and boost customer conversations.
Among the trending digital marketing strategies of 2019, voice-based conversational marketing is ranked at the top, owing to its unprecedented first-person, personalized approach. Although email or chats are forms of conversational marketing, voice-based conversational marketing is a more effective and quicker marketing channel. Forbes predicts that conversational systems will be the face of your brand in the future. The report goes onto say that conversational marketing is the next big thing for marketers, as big as the Internet 20 years ago.
The rise of conversational marketing
A PwC research aimed at understanding the consumer usage and perception of voice assistants: A representative sample of 1,000 Americans aged between 18–64 years were considered for this online survey. The survey revealed that 25–49 year olds were the most active voice searchers. The rapid adoption of voice-assistance paves the way for conversational marketing. Conversational marketing is essentially a feedback-oriented marketing approach adopted by companies to drive customer engagement, grow the customer base, and drive customer loyalty. AI is the engine that powers conversational marketing. Digital marketing platform providers are accelerating their efforts in deploying consumer-facing AI-based systems and interfaces. AI Chatbots have become the face of conversational marketing. According to a Gartner report, virtual voice-assistance will be an integral part of a majority of commercial interactions between the consumer and the business within the next three years.
Conversational marketing is the fastest way to move consumers up the marketing and sales funnel with the power of omnichannel virtual engagement.
As opposed to conventional lead-capture forms that are cumbersome and time-consuming, conversational marketing provides real-time customer experience. Intuitive voice-user interfaces modify the way users experience and engage with businesses. The graph below illustrates the change in customer expectations from the response from online communication channels. The data was derived from the 2019 State of Conversational Marketing report published by Drift.com.
One of the main reasons for the explosive growth of conversational marketing is the focus on customized customer engagement. Another reason why this type of marketing has gained popularity is that even the uninitiated can easily communicate with the voice interface. An interactive voice AI interface provides a seamless, omnichannel virtual engagement platform for the brand. Interacting with our voices is a more natural and intuitive way of communicating rather than typing or tapping on a keyboard.
Conversational Marketing versus Traditional Marketing
Conversation is considered one of the most effective modes of communication for ages. Marketers and brands are now harnessing the power of conversation to drive better user engagement and increase business opportunities.
Conversational marketing is an interactive and personalized way of communication between the user and the business. These conversations are customized according to the interests of the consumer and enable one-to-one communication. This marketing strategy delivers targeted communication and enables greater customer response and growth rates.
Traditional marketing strategies are unidirectional. Businesses can only send out emails, request forms or cold call prospective buyers. There is a marginal level of personalization in traditional marketing.
Another area where conversational marketing performances better than traditional marketing is on the resource utilization aspect. An interactive voice AI can substitute a marketing team. Routine inquiries or repeated conversations can be handled by chatbots, while human resources can focus on complex queries.
The pros of conversational marketing are customized customer engagement, instant response and feedback, and effective lead capturing.
Lead Conversion through Conversation
Conversational marketing is changing the way businesses talk with their customers. It paves the way for interactive and personalized communications. Intuitive voice user interfaces, like AI chatbots, build strong and loyal relationships with customers. AI-powered conversational marketing sifts through the marketing noise and delivers relevant communication at the right time. For the millennial consumer who expects quick and relevant responses, conversational marketing is a seamless and personal way to connect with the brand.
Conversational Marketing — the Future of Online Marketing
The millennial consumer does not want to attend cold calls, exchange emails back and forth, fill long inquiry forms, or engage in any impersonal communication; they want quick and customized information. Voice-enabled conversational marketing can give instant responses and feedback. Using conversational marketing can help shorten the sales cycle by delivering instant, relevant responses to potential consumers and cutting down on the time spent on filling out inquiry forms. The AI engine that powers conversational marketing helps the sales team cut down on the time required on capturing and qualifying leads.
Winimy AI is a pioneering voice AI company that believes in the power of voice AI. Our customized Voice AI solutions enable businesses to harness the power of conversational marketing for deeper and meaningful customer engagement. Reach out to us at email@example.com to pave the way forward.